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Juniper Design Limited of Manchester, England, provides design services to residential developers. Last year, the...

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Accounting

Juniper Design Limited of Manchester, England, provides design services to residential developers. Last year, the company had net operating income of $460,000 on sales of $1,700,000. The companys average operating assets for the year were $1,900,000 and its minimum required rate of return was 10%.

Required: Compute the companys residual income for the year.

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